Today’s Eight Upgrades and Downgrades

Top Upgrades and Downgrades

Advanced Micro Devices Inc. (NASDAQ: AMD) was raised to Neutral from Underperform, and the price target was raised to $7.00 from $5.50 (versus a $6.50 prior close), at Credit Suisse. AMD has a 52-week trading range of $1.75 to $8.00 and a consensus analyst price target of $6.16.

Corrections Corp. of America (NYSE: CXW) was raised to Buy from Neutral with a $20 price target (versus a $13.40 close) at SunTrust Robinson Humphrey. It has a 52-week range of $13.04 to $35.05 and a consensus price target that is now down at $20.50.

Fortinet Inc. (NASDAQ: FTNT) was maintained as Buy at Goldman Sachs but was removed from the Conviction Buy list, and the price target was cut to $36 from $43. Shares closed at $34.09, but Fortinet’s revenue and earnings warning had shares down almost 14% at $29.45 in early indications on Wednesday. The 52-week range is $23.16 to $44.63.

Motorola Solutions Inc. (NYSE: MSI) was raised to Outperform from Market Perform and the price target was raised to $84 from $72 (versus a $73.50 close) at BMO Capital Markets. It has a 52-week range of $59.13 to $78.99 and a consensus price target of $75.08.

Procter & Gamble Co. (NYSE: PG) was raised to Buy from Hold with a $103 price target (versus an $88.54 close) at Argus. The 52-week range is $73.50 to $90.33.

Xilinx Inc. (NASDAQ: XLNX) was downgraded to Neutral from Outperform with a $52 price target (versus a $50.99 close) at Robert W. Baird. The 52-week range is $40.44 to $55.49. The consensus price target is $51.63.

Barracuda Networks Inc. (NYSE: CUDA) was raised to Overweight from Neutral and the price target was raised to $32 from $18 (versus a $23.33 close) at Piper Jaffray. The stock closed down 2.9% on Wednesday, but after higher revenue and earnings its shares were up 8.9% at $25.40 in early trading on Wednesday. The old 52-week range was $9.44 to $25.77.

Brooks Automation Inc. (NASDAQ: BRKS) was raised to Buy from Neutral with a target price of $16.50 (versus a $13.26 close) at Citigroup.

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